FCA regulated firms are expected to have robust operational business continuity plans in place to deal with significant global events like the COVID-19 crisis. The FCA and Bank of England are reviewing firms’ operational resilience and expect firms to take reasonable steps to ensure they continue to comply with their regulatory obligations, notwithstanding any adjustments made to their usual practices in the context of extraordinary circumstances.
Our study, delivered in conjunction with OSS Consult, looks at the key trends relating to operational resilience within financial services and the operational challenges brought by the Covid-19 crisis.